HEAT MAY BE DEVELOPER IN RETAIL COMPLEX NEAR ARENA

A shopping and entertainment complex that Dade County wants
to build near a new downtown Miami arena may be paid for by a
private developer and the Heat, not the county, according to the
MIAMI HERALD. Metro officials have "been forced to rethink the
plan since learning this month that they can't use state grant
money to pay" for the $165M arena or the surrounding retail
development. A new solution would be to include a private
developer and the team, as the County's deal with the Heat gives
the team the "right to jointly develop, lease and operate the
retail project." The retail project could provide "another
source of income for the team," depending on how the deal is
structured (Don Finefrock, MIAMI HERALD, 4/26).